It’s time for this week’s last Support and Resistance Level Report. Here’s how our in-house model tests out this Friday.
First up is the Euro/Dollar, which is trading in the range limited by R1 of 1 1150 and S1 of 1 1110.
Standing near a 150 day moving average, R1 is well confirmed with 11 studies. R3 is backed up by Price Channel Indicator Upper Line, a 100 day moving average and 3 other models, whereas Bollinger Upper Band is among the 4 matches for R2. S3 is a psychological level with 11 models, and the highest support line sees 5 confirmations. S2 counts a 20 day moving average among its 3 matches.
The Cable saw a strong drop yesterday and now has R1 of 1 3140 and S1 of 1 31.
R2 is a 20 day moving average with 7 models, and the lowest resistance line has found 6 matches. R3 counts Bollinger Upper Band as its only confirmation. S3 is backed up by Price Channel Indicator Lower Line, a 4 year low and 6 other studies. The highest support line has found 4 matches, and S2 is a psychological level with 2 models.
Dollar/Yen has the closest levels of 101 30 in resistance and 100 90 in support.
The lowest resistance line has found 6 studies, and R2 sees 5 confirmations. R3 is a 20 day moving average with 2 models. S2 is backed up by Bollinger Lower Band, Price Channel Indicator Lower Line, a psychological level and 3 other studies. The highest support line has found 4 matches, and S3 is a 2 year low with 4 models.
And Dollar/Swiss Franc finds itself between R1 of 0 9760 and S1 of 0 9730.
R2 is a 150 day moving average with 6 matches, and R1 counts a 50 day moving average among its 5 confirmations. R3 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and 3 other models. S1 is a 100 day moving average with 9 confirmations, and the other two support lines have found 5 matches each, including Bollinger Lower Band for S2 and Price Channel Indicator Lower Line for S3.
I’m Celeste Skinner and you’ve been watching the Support and Resistance Level Report for Friday. Stay with Dukascopy TV to follow the latest movements in the currency markets. Goodbye for now.
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